Tyco International takes convergence (consolidating the number of law firms used) to the limit, paring back from 250 to 1, Eversheds in the UK.
The Eversheds press release provides little insight on the economics of this deal. We do learn, however, that legal technology will be deployed to support the arrangement. The deal includes “Contract automation, business process redesign, and a legal extranet integrated into Tyco’s business by Eversheds (to facilitate online reporting and invoicing).” My guess is that an arrangement like this requires quite a bit of legal tech support to integrate the two organizations tightly.
On the business of law side, what’s the difference between “convergence to one firm” and just plain, old-fashioned outsourcing the corporate law department? Also, what does this mean for the “full-time, dedicated Eversheds lawyers?” If a lawyer is going to work exclusively for one client, why not jump inhouse?